News from Around the World

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Fed Official Quarles Poised to Lead Financial Stability Board


WASHINGTON—A top Federal Reserve official is poised to lead a global body overseeing financial regulations, according to people familiar with the matter, overcoming questions abroad about President Trump’s posture toward international institutions.

Fed Steps Into Repo Market to Control Soaring Rates


The Federal Reserve Bank of New York said it would carry out up to $75 billion of transactions known as repurchase agreements on Tuesday to relieve funding pressure in overnight money markets.

Strains developed Monday in short-term financing markets that suggested the central bank could lose control of its benchmark federal-funds rate. 

PHOTO: JASON LEE/REUTERS

Fed’s Patience Tested as Trade Spat Clouds Growth Outlook


The recent escalation of the U.S. trade dispute with China is putting the Federal Reserve in a bind and complicates its make-no-moves policy posture.

REUTERS/Alkis Konstantinidis

Finish what you started on reforms, IMF tells Greece


Under the terms of Greece’s exit seven months ago the Washington-based Fund, which took part in the first two bailouts, and its euro zone lenders are continuing to monitor its compliance with economic targets they set.

The IMF expects Greece’s economy to grow 2.4 percent this year and 2.2 percent in 2020 before slowing in subsequent years, it said, reiterating projections it made two months ago.

For Both Trump and Xi, Trade Deal Comes Amid Growing Pressures at Home


BEIJING — The interim trade pact announced Friday between the United States and China came together as both countries’ leaders faced mounting political pressures and rising economic worries at home.

REUTERS/Philippe Wojazer

France's Macron urges more dialogue with Iran, regrets announcements on enrichment


PARIS (Reuters) - French President Emmanuel Macron said on Monday he regretted Iran’s announcement that it would exceed the allowed enriched uranium limit, but that Paris would hold talks with Iran and its partners to avoid any further escalation in the region.

“I regret the Iranian announcements made today, but as the IAEA (International Atomic Energy Agency) has underlined, Iran is respecting its commitments and we strongly encourage it to be patient and responsible,” Macron told a news conference alongside his Ukrainian counterpart.

Georgieva closes in on top IMF job as no challengers seen: sources


WASHINGTON (Reuters) - Bulgarian economist Kristalina Georgieva was expected to be the only candidate considered to lead the International Monetary Fund as a nomination deadline drew to a close on Friday, two people familiar with the process said.

CreditCreditDaniel Roland/Agence France-Presse — Getty Images

Global Economy Slows, Pushing Europe’s Central Bank to Make a Surprise Move


FRANKFURT — Just a few months ago, the European Central Bank put the brakes on a vast economic stimulus program devised during the financial crisis. On Thursday, it unexpectedly reversed course and revived some of the measures, signaling the rising threat of a recession.

Global Trade Momentum Rises for First Time in Four Months


Trade momentum rose in September for the first time in four months, according to the CPB’s World Trade Monitor. The latest three-month figures offer a little upbeat news about global commerce at a time when the end-game for a “phase one” U.S.-China deal remains murky.

Google in talks to move into banking


Google is talking to US banks about offering current accounts to its customers, accelerating Silicon Valley’s incursion into financial services after Apple’s credit card launch and Facebook’s proposed digital currency Libra.

Google’s move could further alarm lawmakers already anxious about the concentration of increasingly intimate personal information within a few big tech companies. After Facebook has run into widespread resistance to Libra, Google has said it wants to “partner deeply” with existing financial services providers.